June 23rd, 2017

Business

Toronto stock index rallies on resource stocks, but BlackBerry shares fall 12%

By David Hodges, The Canadian Press on June 23rd, 2017

TORONTO – Canada’s main stock index rallied on the strength of resource stocks Friday, but shares in BlackBerry plunged after its first-quarter revenue failed to meet expectations. The Toronto Stock Exchange’s S&P/TSX composite index moved up 99.66 points to 15,319.56, with base metals, gold, materials and energy sectors leading the broad-based advance. Stephen Carlin, head ... Read More »

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London council evacuates residents amid fire safety concerns

By Danica Kirka, The Associated Press on June 23rd, 2017

LONDON – A local London council has decided to evacuate some 800 households in apartment buildings it owns because of safety concerns following the devastating fire that killed 79 people in a west London high-rise. The move comes amid escalating concerns among residents of thousands of tower blocks around Britain. The Camden Council is the ... Read More »

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Toronto stock index rallies on resource stocks, as BlackBerry shares tumble 12%

By The Canadian Press on June 23rd, 2017

TORONTO – Canada’s main stock index rallied on the strength of resource stocks, but shares in BlackBerry plunged after its first-quarter sales failed to meet expectations. The S&P/TSX composite index advanced 99.66 points to 15,319.56, with the base metals and gold sectors leading the way. Blackberry shares (TSX:BB) dropped more than 12 per cent after ... Read More »

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ECB: 2 troubled Italian banks failing, to face insolvency

By The Associated Press on June 23rd, 2017

FRANKFURT – The European Central Bank says two troubled Italian banks will be wound down because they were about to fail. The two banks are Veneto Banca and Banca Popolare di Vicenza. The two banks have struggled to overcome high levels of loans that were not being paid back. The ECB said Friday it had ... Read More »

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Alberta government won’t respond in beer-tax court challenge until Sept. 19

By The Canadian Press on June 23rd, 2017

CALGARY – The Alberta government won’t get to defend the constitutionality of its beer tax system in court until Sept. 19. The delay comes after arguments from lawyers representing two breweries outside the province stretched into the second of the two days allotted. Toronto-based Steam Whistle Brewing has argued that Alberta violated trade rules when ... Read More »

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Kansas jury awards $218M to farmers in Syngenta GMO suit

By Jim Suhr, The Associated Press on June 23rd, 2017

KANSAS CITY, Mo. – A Kansas federal jury awarded nearly $218 million on Friday to farmers who sued Swiss agribusiness giant Syngenta over its introduction of a genetically engineered corn seed variety. Syngenta vowed to appeal the verdict favouring four Kansas farmers representing roughly 7,300 growers from that state in what served as the first ... Read More »

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Weaker inflation slows to 1.3%, could weigh on central bank’s rate decision

By Andy Blatchford, The Canadian Press on June 23rd, 2017

OTTAWA – Steps by the Bank of Canada to prepare the country for an eventual interest rate hike are bumping up against an inflation rate that has eased up on the accelerator. Weaker year-over-year growth in gasoline prices last month helped slow the annual inflation rate to 1.3 per cent for May, Statistics Canada said ... Read More »

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CIBC looks to generate quarter of earnings from U.S. after PrivateBancorp deal

By Alexandra Posadzki, The Canadian Press on June 23rd, 2017

TORONTO – CIBC closed its acquisition of Chicago-based PrivateBancorp on Friday, securing its foothold in the U.S. where CEO Victor Dodig said the bank hopes to one day generate a quarter of its earnings. The Canadian bank (TSX:CM) now earns roughly five per cent of its profits in the U.S., primarily from its wealth management ... Read More »

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Kansas jury awards $218M to Kansas farmers in Syngenta suit

By The Associated Press on June 23rd, 2017

KANSAS CITY, Kan. – A federal jury in Kansas has awarded nearly $218 million to farmers who sued Swiss agribusiness giant Syngenta over its introduction of a genetically engineered corn seed variety. Friday’s verdict after a three-week trial in Kansas City, Kansas, involves four Kansas farmers representing more than 7,000 farmers in the state. Another ... Read More »

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Kids today: They don’t work summer jobs the way they used to

By Paul Wiseman, The Associated Press on June 23rd, 2017

WASHINGTON – It was at Oregon’s Timberline Lodge, later known as a setting in the horror movie “The Shining,” where Patrick Doyle earned his first real paycheque. He was a busboy. The job didn’t pay much. But Doyle quickly learned lessons that served him for years as he rose to become the CEO of Domino’s, ... Read More »

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